A new and smart direct lender with a difference, no transfer fees and loans funded within an hour
The Quick Loan Shop is a UK payday lender bringing you instant payday loans online
Money Boat is an installment lender bringing you clear and manageable loans of up to £1500
A short term loan that allows you to borrow up to £350 and repay on your next payday or earlier
Loans 2 Go Personal Loans, offer instalment loans of up to £1000 repayable over 18 months
H&T Personal Loans, offering short-term loans of up to £1000, no setup fees and same day funding available if approved
Text loans have become very popular in recent years as it provides an easy way to request a loan rather than going online and filling out details all over again or calling in. Typically you need to have submitted an application previously and been approved. A text loan lender will then have set up an account for you and lenders will give you the ability to request any further loans by text via your mobile this is not offered by all payday and instalment lenders so check with each lender to see if this is offered.
When applying for text loans always apply through a direct lender as this will be a company that has funds to lend you if your application is approved. By using a reputable lender you will see that they are a company based in the UK and regulated by the Financial Conduct Authority (FCA) and should have a license which can be checked on the FCA register. To get a text payday loan, you will need to be registered beforehand using the online application forms and will allow a customer to apply for a text loan after being approved. Getting a text loan through a direct payday lender means you can request an amount via text and the lender will get back to you via email as a new agreement may need to be signed. On some occasions once the text is sent and if approved they will send the money to your account as soon as possible as they will have your details already.
Online you will find tons of companies that say they can provide you a text payday loan but you should always check if they are a direct lender or a broker who will try and find a lender for you. Applying through a broker means that the company you’re applying with does not actually have funds to lend to you but will pass your details on to lenders or other brokers putting your details at risk because you have no idea where your details are being sent. Brokers generate revenue through commission through other lenders or by charging customers a fee up front to provide a service of looking for a text loan and at The Lenders List we believe customers should never be charged a fee before a text loan have been approved and looking for a loan should be free by applying directly with lenders you will save time and money avoiding brokers.
Trying to get a text payday loan with no credit will be very difficult. All text loan lenders must conduct a credit check which is required by law and must carry out all the check set out by the FCA such as responsible lending and affordability checks. If you find sites online stating that you can get a no credit check text loan be very wary of this as they may be a broker passing your details on to companies who will conduct the credit search. Some companies will be very deceptive giving you the impression they are a direct lender but really are a broker unless you read the small print so always do a bit of investigating to make an informed decision.
Many lenders will consider customers with bad credit as more and more lenders are assessing applications manually rather than letting a computer decide the fate. You may have made mistakes in the past financially by lenders are being a bit more flexible about approving loans and most lenders are now starting to offer instalment loans. Instalment loans mean that you can apply for a text loan and repay the balance spread over a number of months which makes it easier for the customer and not worry about paying the full balance on the next payday. Bad credit text loans are still available, but the lenders will still carry out the stringent checks to see if a loan is manageable as they have to have your best interests at heart.